Account

Sunk costs – Irretrievable costs
accounts receivable – alıcılar
leases – valuing assets and obligations to be capitalized under long-term leases and measuring the amount of the lease payments and annual leasehold amortization
Market share – is its percentage of total sales in a given market
Earnings per Share – Net Income / # of outstanding shares
Accounts Receivable Ledger – Ledger used by merchandising business that has accounts for credit customers.
Accounting Entity – an organization for which financial data is collected, business entities themselves are viewed as owning everything
An auditor was unable to obtain audited financial statements or other evidence supporting an entity's investment in a large foreign subsidiary. Between which of the following reports should the auditor choose?
Post (or Cost of Living) Allowance – A payment to employees based in a foreign city intended to reimburse for goods and services more expensive than in Washington , D.C
For-profit Business – a business that operates to earn money for its owners.
Steps for closing – service revenue
Income summary
Income Summary
Expenses
Income Summary —– 1st serv. rev – Expenses
retained earnings
retained earnings
dividends
normal balance for equity? – right
An аuditоr wаs unаble tо оbtain audited financial statements or other evidence supporting an entity's investment in a large foreign subsidiary. Between which of the following reports should the auditor choose?
Applied Overhead – Predetermined x machined hours of DLH
*service business* – A business providing services rather than products to customers.
Special Orders – A one-time order that is not considered part of normal business with a customer is a special order. The special order is usually for a reduced sales price.
Special orders do not change unavoidable fixed overhead costs.
Special orders reduce other sales if production is already at capacity.
Accounting records – Organized summaries of a business's financial activities are called accounting records
Sales/Collections Process – sell and deliver goods and/or services to customers and to collect payment

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